Question Period Note: 2021-22 Supplementary Estimates (A)

What funding for small business is included in Supplementary Estimates (A)?

• Through the COVID-19 emergency economic response, the Government of Canada announced a series of measures beginning in March 2020 to support Canadians and businesses facing hardship due to the pandemic.

• Budget 2021 is the government’s plan to finish the fight against COVID-19 and ensure a resilient economic recovery that creates jobs and growth for Canadians.

• As announced in the Fall Economic Statement 2020, $58.7 million included in these Estimates will support small businesses, including Main Street businesses and Black business owners and entrepreneurs.

SUPPLEMENTARY MESSAGES

• The 2021 Federal Budget is an ambitious, long-term plan to support Canadians in the years ahead, create jobs and growth, and position Canada for a resilient and inclusive economic recovery and a sustainable future.

• Funding for further investments announced in the 2021 Federal Budget will be requested by future Supplementary Estimates.

Supplementary Estimates A were tabled in Parliament on May 27, 2021. They represent the first opportunity to access funding for the new fiscal year.

Through these Estimates, Innovation, Science and Economic Development (ISED) is requesting a total of $1 billion, including $58.7 million for the following small business programs:

• $38 million for Shop Local initiatives supporting small businesses in Canada, including:
o funding for provincial and territorial chambers of commerce to collaborate with key stakeholders in their communities to promote local Main Street businesses; and
o funding for the Canada United Small Business Relief Fund, which provides grants that help keeping businesses open while ensuring customers are safe.

• $20.7 million for the new Black Entrepreneurship Loan Fund to provide targeted
support for Black entrepreneurs in Canada by increasing their access to capital. ISED, with the support of financial institutions, will provide loans between $25,000 and $250,000 for Black business owners and entrepreneurs to start, maintain, and grow their businesses.

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